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Technology Stocks : 3Com Corporation (COMS) -- Ignore unavailable to you. Want to Upgrade?

To: Scrapps who wrote (28444)	3/2/1999 4:30:00 PM
From: Moonray	Read Replies (3) \| Respond to of 45548

3Com <COMS.O> Q3 EPS estimate cut by Merrill Lynch NEW YORK, March 2 (Reuters) - Merrill Lynch computer networking analyst Joseph Bellace, Tuesday cut his fiscal third quarter and full year earnings estimate on computer networking company 3Com Corp. <COMS.O>, the brokerage confirmed. While Merrill Lynch could not confirm the actual size of the reductions, a research note obtained by Reuters showed Bellace reduced his EPS estimate for the third quarter, which ended Feb. 28, to a range between $0.28 and $0.32 from his previous estimate of $0.36. The current First Call third quarter consensus estimate is for the company to earn $0.36 a share. 3Com's stock was down $3.94 at $26.75 in late Nasdaq trading. According to the research note, Bellace, who maintains an accumulate rating on the stock, also reduced the fiscal year 1999 earnings estimates to a range between $1.30 and $1.40 from $1.35 and $1.40. The fiscal 1999 First Call estimate is $1.38. The note also said Bellace cut revenue estimates for the third quarter to $1.48 billion from $1.54 billion. "Historically, February is the weakest quarter for 3Com," the note said. ((Daniel Bases, Wall Street Desk 212-859-1718)) REUTERS Rtr 16:18 03-02-99 o~~~ O